Amazon Gets a Buy Rating from Jefferies

By Austin Angelo

Jefferies analyst Randal Konik reiterated a Buy rating on Amazon (NASDAQ: AMZN) yesterday and set a price target of $1150. The company’s shares closed yesterday at $994.62, close to its 52-week high of $1001.20.

According to TipRanks.com, Konik is a 1-star analyst with an average return of -1.9% and a 43.4% success rate. Konik covers the Services sector, focusing on stocks such as Eros International, Abercrombie Fitch, and Acushnet Holdings.

Currently, the analyst consensus on Amazon is Strong Buy and the average price target is $1090.37, representing a 9.6% upside.

In a report issued on May 17, J.P. Morgan also reiterated a Buy rating on the stock.

Based on Amazon’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $35.71 billion and quarterly net profit of $724 million. In comparison, last year the company earned revenue of $29.13 billion and had a net profit of $513 million.

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